House price trends in each of New Zealand and Australia are frequently discussed as national level developments. Sub-national developments are also important, especially where regions display idiosyncratic trends driven either by demand factors (differential income patterns) or by supply factors...

We analyse the multiple channels of influence that GFC-induced credit restrictions had on New Zealand's subnational housing markets. Our model isolates dynamics caused by impacts on the supply and the demand sides of the market. These dynamics are compared to those caused by a migration shock, a...

The extent to which exogenous international agricultural price fluctuations are internalized by rural communities is of major interest for policy-makers concerned with regional economic performance. So too is the link between rural sector performance and urban outcomes, especially in...

Housing costs comprise a major part of most household budgets. Larger households require greater space than do smaller households but do not necessarily have larger incomes. The cost of extra housing space (e.g. the cost of an extra bedroom) may vary across different locations, both absolutely...

We analyse two inter-related features of regional housing markets: determinants of new housing supply, and the impact of supply responsiveness on price dynamics. We demonstrate that a suitably specified q-theory model (including residential land values as well as construction costs) explains...

An efficient housing market is of critical importance for individual welfare and for a well-functioning economy. We test the efficiency of this market by estimating the factors that determine both the long-run and the dynamic paths of regional house prices. Our tests use a new quarterly regional...

Sunlight influences people's real estate decisions, but city intensification may reduce sunlight exposure for neighbouring properties, causing a negative externality. There are hitherto no rigorous estimates of the cost of this externality. Using over 5,000 observations on house sales in...

This report was prepared for the Centre for Housing Research Aotearoa New Zealand (CHRANZ). The aim of this study is to identify a set of housing research projects addressing two related topics. First, the impact of economic, social and environmental changes on housing in New Zealand's...

The New Zealand Regional Housing Model (NZRHM) includes estimated equations for four key housing market variables: house prices, housing supply (new dwelling consents), residential vacant land (lot) prices, and average rents. Long run (cointegration) relationships and short run (error...

Die vorliegende Studie basiert auf einem Gutachten, das zusammen mit dem Leibniz-Institut für ökologische Raumentwicklung (IÖR) und Prof. Gesine Marquardt, Inhaberin des Lehrstuhls für Sozial- und Gesundheitsbauten der Technischen Universität (TU) Dresden, für das Bundesministerium für...